3 ms·
Most certainly businesses as a response will be forced to raise prices and thus increase inflation and make everyday products more expensive. These studies are
by nodesocket 6y ago
Most certainly businesses as a response will be forced to raise prices and thus increase inflation and make everyday products more expensive.
These studies are obviously politically and progressively motivated (coming from firms such as american progress) so we have to assume a large scale national increase of minimum wage as significant as this would have unintended negative consequences.
- imtringued 6y agoIf businesses can increase prices they have done so already and that would show in the form of higher demand for labor. So really, the only benefit is a psychological trick. Simply handing out money to underpaid workers would drive inflation much more effectively and do the exact same thing.